Required information [The following information applies to the questions displayed below.] Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020 , an asset account for the company showed the following balances: During 2020, the following expenditures were incurred for the equipment: The equipment is being depreciated on a straight-line basis over an estimated life of 17 years with a $18,000 estimated residual value. The annual accounting period ends on December 31. 1. Prepare the adjusting entry that was made at the end of 2019 for depreciation on the manufacturing equipment. (Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the adjusting entry for depreciation on the manufacturing equipment during 2019. Note: Enter debits before credits. 2. Starting at the beginning of 2020 , what is the remaining estimated life? 3. Prepare the journal entries to record the two expenditures during 2020 . (If no entry is required for a transaction/event, ournal entry required" in the first account field.) Journal entry worksheet Record the expenditure for the major overhaul of the equipment. Note: Enter debits before credits. 3. Prepare the journal entries to record the two expenditures during 2020. (If no entry is required for a transaction/event, select "No ournal entry required" in the first account field.) Journal entry worksheet Record the expenditure for routine maintenance and repairs on the equipment. Note: Enter debits before credits